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Monthly Archives: June 2016

Traditional large joint families are increasingly getting out numbered in India by nuclear families. The radical rise of nuclear family is influencing many factors of life these days, and one of the main is property buying decisions and the considerations they make. Since the family is going smaller in size, the requirements are also changing accordingly. Let’s check out what are the considerations the nuclear family takes or should take into account before purchasing a property.

1. Flats and apartments- Yes, Indian nuclear families prefer flats and apartments rather than big sprawling house. One of the main reason for the choice is maintenance. Also the maintenance cost of a big house is not always possible to be borne by a nuclear family as there are hardly one to two earning members at the most. Compact and space-efficient properties are both cheaper to buy and maintain as well.

2. Facilities around- Since nuclear family have lesser number of people, having the facilities nearby is convenient to save time and balance professional-personal life. Most of the people look for properties closer to the workplace to minimize the travelling time and also be available in short distance for any emergency at home.

3. Resale value- Resale value is another important factor to be considered before purchasing a property. Many a times, nuclear family decides to move to more upscale places as their finances improves and therefore sell out the older one. So to remain profitable in any such occasion, it is important to understand and evaluate the resale value of the property well in advance.

4. Kid-friendly environment- Indian parents are more careful in taking care of their child’s need and upbringing than that of their own convenience and luxuries. Therefore a good locality is of prime importance. Also more nearby the child-related facilities are like school, daycare, activity class, the more chances the property will be shortlisted.

Evaluate your needs and make wise decision in terms of purchasing property.

Today, I will talk about the word ‘Luxury’ when it gets attached to the real estate terms like flat, apartment or residence. These days we often hear the term Luxurious flat or luxurious apartment. And to be very honest, on more minute scrutiny you may find many of them are not qualifying for the tag ‘Luxurious’. So what are the factors that a property need to possess to be called as ‘Luxurious’ in real sense. Let’s check them out:

1. Living space- The first and foremost is the living space. A flat to qualify as ‘luxurious’ should provide enough living space, i.e. living room, bedroom, kitchen, bathroom should be spacious enough to accommodate latest amenities and also provide ample free space. Often there is confusion that whether an 1BHK flat can be marketed as ‘luxurious’ or not. Well, according to my simple opinion, if a flat is being brought for only two people then 1 BHK is sufficient and can be termed ‘luxurious’ if it provides ample living space for the two and the latest features and amenities.

2. Security- The next important thing comes the Security. A ‘luxurious’ residence should not make any compromise on the security of the flats. There has to be full-proof video lock system, intercom and CCTV coverage and the list can get updated with every single invention in this field.

3. Parking space- A ‘luxury’ residence must provide parking space and the numbers of it is generally directly proportional to the number of bedrooms i.e. 1 parking space for 1BHK, 3 for 3BHK. These days, many luxury projects are using mechanized parking systems, however as of now it cannot be said that it is mandate to qualify. Till the time it is providing the parking spaces which are covered and spacious enough for SUVs, they can market themselves as ‘Luxurious’.

4. Elevators- Yes, the elevators too should maintain the standard. Firstly, there need to be standby elevator in the building. If in case one goes down, the residents should not face trouble. Secondly, there should be separate elevator for the service needs, maids, etc. In most of the cases, the service elevator serves as the standby one. Thirdly, the elevators should have enough space to accommodate at least one stretcher and one human. Fourthly, the doors of at least the main elevator should be well-covered, protected and automatic.

5. Condominium amenities- Condominium amenities are the ones that are provided for all the residents of a condominium or complex collectively. These amenities include gymnasium and fitness centre, club house, children play area, swimming pool and the list can get updated with more latest joggers’ park, senior citizen area, amphitheater, games room and many more. A ‘luxury’ condo usually provides these amenities and many more are getting discovered each day.

6. Enough of nature- This is comparatively new addition in the list but are selling high and of course the most important one. A project to be qualified as ‘luxury’ should allocate at least one-third area of its total project for nature. The nature includes trees, green grass ground, lake or water bodies.

Now that you know what ‘luxury’ means choose your residence wisely and enjoy the eternal bliss of life. Stay connected!